Rackspace Hosting, Inc (NYSE:RAX) went higher by +4.34% to close at $ 31.50.
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Shares of Rackspace Hosting (NYSE:RAX) traded down 0.13% during midday trading on Friday, hitting $31.46.
As for as concerns shares volumes, in share of capital Rackspace Hosting, Inc. With $186 billion in AUM (assets under management), Apollo is a PE firm that has diverse investments ranging from industrial, communications, media, consumer, services, and retail to the energy and healthcare sectors. Rackspace Hosting has a one year low of $15.05 and a one year high of $32.14. The firm has a 50-day moving average price of $25.81 and a 200 day moving average price of $23.12.
Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings data on Monday, August 8th. For the reporting quarter, equity analysts expect the stock to deliver $0.22 in earnings per share (EPS). The company earned $489.40 million during the quarter, compared to the consensus estimate of $521.07 million.
Insider Activity: Corporate insiders look pessimistic about the outlook of the company stock that they seem to offload shares while they have 24.41 jumped so far this year. The company’s revenue was up 7.0% compared to the same quarter a year ago. Analysts had expected Rackspace Hosting, Inc. Advisory Services Network LLC raised its stake in shares of Rackspace Hosting by 10.3% in the second quarter. LS Investment Advisors LLC now owns 6,426 shares of the hosting company’s stock worth $134,000 after buying an additional 2,559 shares during the period. Creative Planning now owns 9,530 shares of the hosting company’s stock worth $199,000 after buying an additional 1,870 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Rackspace Hosting during the second quarter valued at $46,435,000. The company stock was initiated at Neutral, wrote analysts at SunTrust, in a research note issued to clients on Thursday July 21, 2016. Analysts at Wells Fargo slashed their rating on Rackspace stock from Outperform to Market Perform, following its recent takeover news. Rackspace Hosting presently has a consensus rating of “Hold” and a consensus price target of $28.25. And roundups of analyst notes show that 4 are rating the stock a buy while 4 rate RAX a strong buy. The median 12-month price target of 13 analysts covering the company is $30.00, which suggests the stock could still gain more than -5 percent.
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The managing hosting provider has shifted strategy in recent times to offer managed services to business users migrating to Amazon Web Services, Google Compute Engine, IBM Softlayer and Microsoft Azure in the face of strong competitive pressure from cloud infrastructure giants. The Company also offers its solutions across a variety of IT form factors including multi-tenant public cloud dedicated single-tenant servers private cloud and hybrid cloud.
